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  • more Glass-Steagall

    http://bloomberg.com/apps/news?pid=2...mo2vHpo&pos=10

    A one-page proposal gaining traction in Congress could turn back the clock on Wall Street 10 years, forcing the breakup of banks, including Citigroup Inc.

  • #2
    Re: more Glass-Steagall

    Something about locking the barn doors after all the horses have escaped comes to mind.

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    • #3
      Re: more Glass-Steagall

      So long as we have moral hazards like fractional reserve banking and FDIC insurance, we need something like the Glass-Steagall Act.

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      • #4
        Re: more Glass-Steagall

        Originally posted by jtabeb View Post
        Something about locking the barn doors after all the horses have escaped comes to mind.
        I suppose, but we hope to get more horses someday...

        Glass-Steagall seemed effective, I'd like to see it come back.

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        • #5
          Re: more Glass-Steagall

          Originally posted by Mashuri View Post
          So long as we have moral hazards like fractional reserve banking and FDIC insurance, we need something like the Glass-Steagall Act.
          Bingo.
          You can't have a half-assed regulatory environment; either regulate properly or let the market regulate itself in full (which is notoriously efficient).

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